Connect with us

Business News

Nigerian Senate moves for the computerization of the oil sector2 minutes read

Published

on

Nigerian Senate moves for the computerization of the oil sector
(Photo by Kola SULAIMON / AFP)

The 9th Senate has called on President Muhammadu Buhari to initiate the process of computerising the country’s oil sector.

Deliberating on the motion sponsored by Sen. George Sekibo during Thursday’s plenary, the Senate said the motive is to curb the multifaceted challenges associated with the oil and gas production, transportation, and its sale in the country.

It further directed its joint committee on petroleum upstream, downstream and gas resources to convene a public hearing to ascertain the quantity of oil and gas produced daily and the quality control mechanism engaged by NNPC.

The committee was also mandated to determine the amount of waste of petroleum products through pilfering, pipeline vandalisation and leakages, and international best practices of computerized oil and gas business management, including pipeline protection and quantity and quality control.

The Senate reached this resolution after adopting the motion sponsored by Sen. Sekibo and 29 others on the “need to install computerized oil facilities management gadgets for Nigerian crude oil businesses.”

While presenting the motion, Sen. Sekibo, representing Rivers East Senatorial District said it is of concern that while other countries in the same business venture have gone digital for the past 50 years, Nigeria still uses analogue technology in its petroleum technology.

Senator Sekibo explained that Nigeria still uses 4 people to monitor a kilometre of pipeline, giving undue opportunities to oil pilfering, and rise to unnecessary pipeline explosions, causing deaths and unquantifiable loss of products and other human valuables.

Nigerian Senate moves for the computerization of the oil sector
(Photo by FLORIAN PLAUCHEUR / AFP)

He expressed his regret that, after 61 years of the oil business, Nigeria could not give an account of the total amount of oil products produced, sold, wasted and lost through pilfering, or pipeline vandalization.

In his words, “ … One key area of fighting corruption is through effective management of the resource itself, that is the source of revenue just as this administration emphasizes the fight against revenue pilfering by the operators”.

A computerized oil management system assists in the pipeline protection and triggers off alarms when any section of the pipeline is disturbed for whatever reason. The system detects if there is a weak section, captures suspected intruders on the pipeline, and is equipped with fire fighting gadgets in the event of fire outbreaks.

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading
Click to comment

Leave a Reply

Business News

Uganda approves return of over 2,500 nationals stranded abroad

Published

on

Over 2,500 Ugandan nationals stranded abroad amid the Covid-19 pandemic can now return home as approved by the Ugandan cabinet.

The cabinet on Monday, agreed that Ugandan nationals trapped in 66 countries can return home at their own cost.

The government is making arrangements with the UN World Food Program (WFP) to fly the stranded citizens home, Judith Nabakooba, the country’s minister for information, communication technology and national guidance says, adding that all the returning citizens will have to undergo a 14-day mandatory institutional quarantine. 

President Yoweri Museveni last month, directed Prime Minister Ruhakana Rugunda to study the possibility of evacuating dozens of citizens stranded abroad amid Covid-19 pandemic travel restrictions. 

To contain the spread of Covid-19, the country on March 22 suspended all incoming flights, except cargo flights. 

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading

Business News

Border closure hurts Tanzania’s horticultural exports

Published

on

A border closure between Tanzania and Kenya has hit Dar es Salaam’s horticulture sector due to long delays at the crossing for fresh produce truckers, resulting in a disruption of the supply chain.

Horticulture is one of Tanzania’s economic pillars.

This past week, Tanzania Horticulture Association (TAHA) Chief Executive, Jacqueline Mkindi asked the governments of Tanzania and Kenya to resolve the border issue for the sake of an already struggling exports industry.

Most of Tanzania’s horticulture produce is exported through Kenya’s Jomo Kenyatta International Airport (JKIA). “If this tug of war continues, we’ll be the first to suffer as we still rely on JKIA and the port in Mombasa to export crops whose routes are not open from Tanzania,” Mkindi adds. “Our government has all along been considerate to horticulture. We advise it to embark on economic negotiations with Kenya to allow cargo to continue crossing borders smoothly.”

After an international aviation halt, the TAHA signed a deal with Ethiopian Airlines.

Despite the deal with Ethiopian Airlines to ferry fresh vegetables, fruits, herbs and flowers to global markets from Kilimanjaro International Airport, the airline has still not been granted long-term landing permits.

Currently, TAHA has to apply for a landing warrant for every incoming flight at routine airport charges and has to attach backup documents each time.

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading

Business News

Ethiopia to divest 40% of Ethio Telecom

Published

on

The Ethiopian government is finalizing plans to sell a 40 percent stake in Ethio Telecom- the country’s sole telecommunication provider . The plan was announced by Ethiopia’s State Minister of Finance, Eyob Tekalign Tolina.

Ethiopia’s telecommunication industry is considered one of the last closed markets. It has been one of the government’s plans to liberalize the country’s economy launched by Prime Minister Abiy Ahmed. Ethio Telecom has a large market serving a population of around 110 million.

The government will retain ownership of the remaining 60 percent.

Foreign firms in the telecom sector will be invited to bid and a percentage of the minority stake will be sold to Ethiopian citizens. South Africa’s MTN and Kenya’s Safaricom have shown interest in expanding into Ethiopia in the past.

Ethiopia’s communications regulator says the country would proceed with the privatisation of the telecommunications sector despite the novel coronavirus outbreak.

Copyright News Central

All rights reserved. This post and other digital content on this website may not be reproduced, published, broadcasted, rewritten or redistributed in whole or in part without prior express written permission from News Central.

Tell your story the right way

Have you witnessed a news worthy event? Want to become our citizen journalist and tell your own stories?

Send your stories to us or contact us via:
Email: Click to email us
Social media: Twitter and Facebook @NewsCentralTV
WhatsApp: Text or call +234 901 190 0000 .

New stories delivered to your phone

Click here to have news stories delivered to your phone or mail. You can also share your stories with us. Join our mailing list here.

Continue Reading

Trending